US Government Releases Crypto Report! Here’s What’s Inside

After months of anticipation, the Trump administration has finally published its long-promised crypto regulation report.

Issued by the President’s Working Group on Digital Assets, the report outlines a sweeping set of policy recommendations aimed at structuring the United States’ crypto landscape.

It covers everything from how to classify digital assets, who should regulate them, how banks can interact with them, and what taxation should look like. Stablecoins and national security were also top concerns.

The report is being viewed as a cornerstone for future legislation and a clear attempt to make the U.S. a global leader in digital finance, but with a strong emphasis on control and legal clarity.

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Key Takeaways

1. Clear crypto classification proposed. The report outlines a framework dividing crypto into commodities and securities.

2. Banks encouraged to enter crypto. New rules would let banks custody crypto and offer digital asset services more easily.

3. Stablecoins and taxes prioritized. The U.S. aims to defend dollar dominance while updating outdated crypto tax laws.

What Is the Trump Crypto Report?

The new crypto policy report was produced by the President’s Working Group on Digital Assets, a coalition of agencies including the Treasury, SEC, Commerce Department, and others.

It was mandated by an executive order signed by President Trump in January and is part of a broader push to bring structure and oversight to the fast-growing digital asset space.

The group’s main focus was to lay out a regulatory roadmap. The report touches on five major areas:

1. Defining digital assets

2. Regulating crypto markets

3. Involving banks

4. Supporting stablecoins

5. Reforming crypto taxes

The goal is to protect U.S. consumers, maintain leadership in global finance, and make crypto innovation more compatible with existing institutions.

SEC Chair Paul Atkins summed it up by saying that a rational framework is the best way to protect investors and strengthen U.S. capital markets.

Interestingly, despite earlier discussions from Trump about building a national Bitcoin reserve, this final document does not mention any such plan.

The omission suggests that although a strategic stockpile was floated, it’s not a formal part of the government’s crypto strategy at this time.

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Clear Oversight Between SEC and CFTC

One of the most important parts of the report is its recommendation to split regulatory authority between the SEC and CFTC.

For years, there has been confusion over which agency governs which type of token. This report attempts to settle that debate.

The proposal suggests:

1. Securities (like many ICO tokens): regulated by the SEC

2. Commodities (like Bitcoin and Ethereum): overseen by the CFTC

This dual-agency approach is meant to bring legal clarity and prevent overlap. Both agencies are also encouraged to cooperate closely to close loopholes and handle disputes over unclear classifications.

According to the working group, a well-defined structure will give investors more confidence and make it easier for projects to comply without fear of sudden enforcement.

Also mentioned is the need to modernize the regulatory process for exchanges, DeFi platforms, and other digital asset service providers, with the idea being that proper oversight can unlock growth while preventing fraud and misuse.

Read Also: Trump’s Bold Crypto Move: Stablecoins Get Green Light While CBDCs Get Slammed

Stablecoins, Banks, and the Dollar’s Role

Stablecoins received a lot of attention in the report, especially as tools to reinforce the global dominance of the U.S. dollar.

The working group warned that if stablecoin innovation continues offshore, it could weaken the dollar’s role in international payments.

The report urges lawmakers to pass the GENIUS Act, which would require all U.S. stablecoins to be fully backed by dollars or equivalent liquid assets.

The act also includes strict compliance, audits, and licensing for stablecoin issuers, aiming to eliminate unbacked or risky stablecoin models that have caused instability in the past.

On banking, the group recommended easing restrictions so that regulated banks can:

1. Hold crypto on behalf of customers

2. Launch crypto products

3. Partner with fintech firms for blockchain solutions

They also called for a more transparent process for banks to obtain charters and clear guidance from federal regulators.

This reflects a broader shift in government attitudes, with more openness to allowing traditional finance institutions to engage with digital assets under proper supervision.

Interestingly, while the report opposes the development of a U.S. central bank digital currency (CBDC), it acknowledges that stablecoins already provide many of the same features, such as programmable payments and asset freezing options.

This shows a clear preference for private-sector innovation over government-issued digital money.

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Tax Policy and the Missing Bitcoin Reserve

Taxation is one of the areas where the report pushes for big change. Current tax rules often treat crypto like property, leading to confusion and compliance issues, especially for staking rewards, microtransactions, and decentralized finance earnings.

The report calls on Congress to create a custom tax framework for digital assets, suggesting that crypto should be treated as a unique asset class.

This would involve adapting existing rules for securities and commodities to account for how crypto is actually used today.

Some key proposals include:

1. Simplified tax reporting for everyday crypto transactions

2. Clarified treatment of staking rewards

3. Tailored rules for decentralized applications and token incentives

This effort to align tax policy with crypto use cases is seen as a necessary step for wider adoption, especially among retail users and small businesses who face unnecessary friction under current IRS guidelines.

On a related note, the report notably skips any mention of the strategic Bitcoin reserve or government crypto stockpile that Trump proposed earlier this year.

The omission suggests that while the idea made headlines, it’s not yet being formally pursued, at least not as part of this regulatory roadmap.

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Conclusion

The Trump administration’s crypto policy report lays out a bold but structured vision for the future of digital assets in the U.S.

By recommending regulatory clarity, encouraging bank involvement, supporting stablecoins, and calling for crypto-specific tax laws, it attempts to balance innovation with investor protection.

Although some controversial ideas like a Bitcoin reserve were left out, the report sets the stage for deeper legislation and long-term policy shifts.

For crypto users and investors, these changes could reshape how platforms operate, how taxes are calculated, and how the U.S. positions itself in the global digital economy.

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FAQ

What is the President’s Working Group on Digital Assets?

It is a coalition of federal agencies tasked with creating policy recommendations for regulating crypto in the United States.

What does the crypto report recommend for stablecoins?

It supports stablecoins backed by U.S. dollars and calls for federal oversight through the GENIUS Act to ensure transparency and reliability.

Who will regulate crypto under this plan?

The CFTC will oversee commodity-like tokens (such as Bitcoin), while the SEC will regulate tokens considered securities.

How will crypto taxes change?

The report recommends creating a special tax framework for crypto that simplifies compliance and recognizes staking, microtransactions, and DeFi.

Is the U.S. still planning a national Bitcoin reserve?

Not at the moment. While previously mentioned in an executive order, the latest report does not include plans for a crypto stockpile or Bitcoin reserve.

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